<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
(Mark One)
(X) ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 (FEE REQUIRED)
For the fiscal year ended December 31, 1994
OR
( ) TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED)
Commission file number: 0-11889
First Financial Corporation
401(k) Profit Sharing Plan and Trust
1305 Main Street
Stevens Point, Wisconsin 54481
(Full title and address of the plan)
First Financial Corporation
1305 Main Street
Stevens Point, Wisconsin 54481
(Name and address of issuer of the
securities held pursuant to the plan)
<PAGE>
Information Included
Report of Independent Auditors
Audited Financial Statements:
Statements of Net Assets Available for Plan Benefits
Statements of Changes in Net Assets Available for Plan Benefits
Notes to Financial Statements
Supplemental Schedules:
Assets Held for Investment
Transactions or Series of Transactions in Excess of 5% of the Current
Value of Plan Assets
Exhibits:
Exhibit 24 - Consent of Accountant
2
<PAGE>
Report of Independent Auditors
First Financial Corporation 401(k)
Profit-Sharing Plan and Trust
We have audited the accompanying statements of net assets available for plan
benefits of the First Financial Corporation 401(k) Profit-Sharing Plan and Trust
(the Plan) as of December 31, 1994 and 1993, and the related statements of
changes in net assets available for plan benefits for the years then ended.
These financial statements are the responsibility of the Plan's management. Our
responsibility is to express an opinion on these financial statements based on
our audits.
We conducted our audits in accordance with generally accepted auditing
standards. These standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for plan benefits of the Plan at
December 31, 1994 and 1993, and the changes in its net assets available for plan
benefits for the years then ended, in conformity with generally accepted
accounting principles.
Our audits were performed for the purpose of forming an opinion on the financial
statements taken as a whole. The accompanying supplemental schedules of assets
held for investment as of December 31, 1994, and transactions or series of
transactions in excess of 5 percent of the current value of plan assets for the
year then ended, are presented for purposes of complying with the Department of
Labor's Rules and Regulations for Reporting and Disclosure under the Employee
Retirement Income Security Act of 1974, and are not a required part of the
financial statements. The fund information in the statement of net assets
available for plan benefits and the statement of changes in net assets available
for plan benefits is presented for purposes of additional analysis rather than
to present the net assets available for plan benefits and changes in net assets
available for plan benefits of each fund. The supplemental schedules and fund
information have been subjected to the auditing procedures applied in our audits
of the financial statements and, in our opinion, are fairly stated in all
material respects in relation to the financial statements taken as a whole.
/s/ Ernst & Young LLP
May 26, 1995
3
<PAGE>
First Financial Corporation
401 (k) Profit-Sharing Plan and Trust
Statement of Net Assets Available for Plan Benefits
December 31, 1994
<TABLE>
<CAPTION>
M&I First First
Money M&I M&I Financial Financial
Market Bond Max-Cap CD Stock
Fund Fund Fund Fund Fund
----------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Assets
Investments at fair value:
Pooled funds $ -- $ 2,782,371 $ 3,460,673 $ -- $ --
Common stocks -- -- -- -- 27,297,050
Interest-bearing deposits 1,822,081 267,805 332,894 3,593,222 235,975
Notes receivable -- -- -- -- --
----------------------------------------------------------------------
Total investments 1,822,081 3,050,176 3,793,567 3,593,222 27,533,025
Accrued interest 6,987 -- -- 13,575 178
Participant contributions receivable 1,284 4,235 5,160 3,157 23,413
----------------------------------------------------------------------
Total assets 1,830,352 3,054,411 3,798,727 3,609,954 27,556,616
Liabilities
Excess contributions payable 1,181 4,146 7,979 7,394 41,198
Other payables 47,043 43,407 59,399 50,800 99,676
----------------------------------------------------------------------
Net assets available for plan
benefits $ 1,782,128 $ 3,006,858 $ 3,731,349 $ 3,551,760 $27,415,742
======================================================================
</TABLE>
[TABLE CONTINUED]
<TABLE>
<CAPTION>
First
First Financial
Financial Advance
Loan Contribution
Fund Fund Other Total
--------------------------------------------------------
<S> <C> <C> <C> <C>
Assets
Investments at fair value:
Pooled funds $ -- $ -- $ -- $ 6,243,044
Common stocks -- -- 120,994 27,418,044
Interest-bearing deposits -- 2,178,624 8,066 8,438,667
Notes receivable 731,138 -- -- 731,138
--------------------------------------------------------
Total investments 731,138 2,178,624 129,060 42,830,893
Accrued interest 5,729 -- 316 26,785
Participant contributions receivable -- -- -- 37,249
--------------------------------------------------------
Total assets 736,867 2,178,624 129,376 42,894,927
Liabilities
Excess contributions payable -- -- -- 61,898
Other payables -- -- -- 300,325
--------------------------------------------------------
Net assets available for plan
benefits $ 736,867 $ 2,178,624 $ 129,376 $ 42,532,704
========================================================
</TABLE>
See accompanying notes.
4
<PAGE>
First Financial Corporation
401 (k) Profit-Sharing Plan and Trust
Statement of Net Assets Available for Plan Benefits
December 31, 1993
<TABLE>
<CAPTION>
M&I First First
Money M&I M&I Financial Financial
Market Bond Max-Cap CD Stock
Fund Fund Fund Fund Fund
--------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Assets
Investments at fair value:
Pooled funds $ -- $ 3,220,548 $ 2,767,484 $ -- $ --
Common stocks -- -- -- -- 31,605,951
Interest-bearing deposits 1,076,404 3,767 3,570 1,261,167 336,160
Notes receivable -- -- -- -- --
--------------------------------------------------------------------
Total investments 1,076,404 3,224,315 2,771,054 1,261,167 31,942,111
Accrued interest 2,296 33 26 462 234
Participant contributions receivable 555 2,416 1,919 1,657 15,536
--------------------------------------------------------------------
Total assets 1,079,255 3,226,764 2,772,999 1,263,286 31,957,881
Liabilities
Excess contributions payable 286 5,913 6,099 5,948 40,647
Other payables 50 50 50 50 61,318
--------------------------------------------------------------------
Net assets available for
plan benefits $ 1,078,919 $ 3,220,801 $ 2,766,850 $ 1,257,288 $31,855,916
====================================================================
</TABLE>
[TABLE CONTINUED]
<TABLE>
<CAPTION>
First
First Financial
Financial Advance
Loan Contribution
Fund Fund Other Total
-------------------------------------------------------
<S> <C> <C> <C> <C>
Assets
Investments at fair value:
Pooled funds $ -- $ -- $ -- $ 5,988,032
Common stocks -- 301,500 128,746 32,036,197
Interest-bearing deposits -- 2,285,394 3,481 4,969,943
Notes receivable 480,270 -- 9,873 490,143
--------------------------------------------------------
Total investments 480,270 2,586,894 142,100 43,484,315
Accrued interest 3,296 386 343 7,076
Participant contributions receivable -- -- -- 22,083
--------------------------------------------------------
Total assets 483,566 2,587,280 142,443 43,513,474
Liabilities
Excess contributions payable -- -- -- 58,893
Other payables -- -- -- 61,518
---------------------------------------------------------
Net assets available for
plan benefits $ 483,566 $ 2,587,280 $142,443 $43,393,063
=========================================================
</TABLE>
See accompanying notes.
5
<PAGE>
First Financial Corporation
401 (k) Profit-Sharing Plan and Trust
Statement of Changes in Net Assets Available for Plan Benefits
Year ended December 31, 1994
<TABLE>
<CAPTION>
M&I
Money M&I First First
Market M&I Max- Financial Financial
Fund Bond Fund Cap Fund CD Fund Stock Fund
---------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Additions:
Contributions from First
Financial Corporation $ 408,440 $ 202,571 $ 323,966 $ 293,790 $ --
Contributions from Plan
participants 22,307 184,824 154,766 65,366 610,432
Rollover of participants' funds
from other plans 286,913 472,539 311,472 588,483 512,447
Investment income 49,816 194,594 80,769 84,579 813,188
---------------------------------------------------------------------------
767,476 1,054,528 870,973 1,032,218 1,936,067
Deductions:
Administrative expenses 250 150 300 515 3,273
Payments to Plan participants 297,425 207,272 309,933 117,531 2,032,863
---------------------------------------------------------------------------
Net additions 469,801 847,106 560,740 914,172 (100,069)
Net realized and unrealized
appreciation (depreciation) in
aggregate fair value of -- (290,415) (21,832) -- (5,397,373)
investments
Transfers 233,408 (770,634) 425,591 1,380,300 1,057,268
---------------------------------------------------------------------------
Net increase (decrease) 703,209 (213,943) 964,499 2,294,472 (4,440,174)
Net assets available for plan
benefits at beginning of year 1,078,919 3,220,801 2,766,850 1,257,288 31,855,916
---------------------------------------------------------------------------
Net assets available for plan
benefits at end of year $ 1,782,128 $ 3,006,858 $ 3,731,349 $ 3,551,760 $ 27,415,742
===========================================================================
</TABLE>
[TABLE CONTINUED]
<TABLE>
<CAPTION>
First
Financial
First Advance
Financial Contribution
Loan Fund Fund Other Total
-------------------------------------------------------------
<S> <C> <C> <C> <C>
Additions:
Contributions from First
Financial Corporation $ -- $ 2,124,627 $ -- $ 3,353,394
Contributions from Plan
participants -- -- -- 1,037,695
Rollover of participants' funds
from other plans -- -- -- 2,171,854
Investment income 46,274 6,774 4,403 1,280,397
--------------------------------------------------------------
46,274 2,131,401 4,403 7,843,340
Deductions:
Administrative expenses -- 243 5 4,736
Payments to Plan participants 41,229 -- 10,074 3,016,327
--------------------------------------------------------------
Net additions 5,045 2,131,158 (5,676) 4,822,277
Net realized and unrealized
appreciation (depreciation) in
aggregate fair value of -- 34,375 (7,391) (5,682,636)
investments
Transfers 248,256 (2,574,189) -- --
--------------------------------------------------------------
Net increase (decrease) 253,301 (408,656) (13,067) (860,359)
Net assets available for plan
benefits at beginning of year 483,566 2,587,280 142,443 43,393,063
--------------------------------------------------------------
Net assets available for plan
benefits at end of year $ 736,867 $ 2,178,624 $ 129,376 $ 42,532,704
==============================================================
</TABLE>
See accompanying notes.
6
<PAGE>
First Financial Corporation
401 (k) Profit-Sharing Plan and Trust
Statement of Changes in Net Assets Available for Plan Benefits
Year ended December 31, 1993
<TABLE>
<CAPTION>
Money Market Fixed Equity CD
Fund Pool Pool Pool
------------------------------------------------------------
<S> <C> <C> <C> <C>
Additions:
Contributions from First Financial
Corporation $ 34,242 $ 8,277 $ 7,414 $ 7,473
Contributions from Plan participants 16,838 52,529 51,763 34,548
Rollover of participants' funds from
other plans 5,599 47 40 7
Investment income 52,032 249 249 28,878
-------------------------------------------------------------
108,711 61,102 59,466 70,906
Deductions:
Administrative expenses -- -- -- --
Payments to Plan participants 71,499 20,229 8,651 20,673
-------------------------------------------------------------
Net additions 37,212 40,873 50,815 50,233
Net realized and unrealized appreciation
(depreciation) in aggregate fair value
of investments -- 161,448 99,278 --
Transfers (3,211,050) (2,518,884) (2,173,742) (1,323,847)
-------------------------------------------------------------
Net increase (decrease) (3,173,838) (2,316,563) (2,023,649) (1,273,614)
Net assets available for plan benefits at
beginning of year 3,173,838 2,316,563 2,023,649 1,273,614
-------------------------------------------------------------
Net assets available for plan benefits
at end of year $ -- $ -- $ -- $ --
=============================================================
</TABLE>
[TABLE CONTUNED]
<TABLE>
<CAPTION>
Participant Forfeiture
Stock Loan Suspense M&I Money
Pool Pool Account Market Fund
-------------------------------------------------------------
<S> <C> <C> <C> <C>
Additions:
Contributions from First Financial
Corporation $ 29,594 $ -- $ -- $ 217,181
Contributions from Plan participants 199,838 -- -- 14,863
Rollover of participants' funds from
other plans 1,119 -- -- --
Investment income 139,404 13,948 1,555 13,947
------------------------------------------------------------
369,955 13,948 1,555 245,991
Deductions:
Administrative expenses -- -- -- 50
Payments to Plan participants 373,714 8,985 -- 31,540
-------------------------------------------------------------
Net additions (3,759) 4,963 1,555 214,401
Net realized and unrealized appreciation
(depreciation) in aggregate fair value
of investments (11,853,511) -- -- --
Transfers (8,753,656) (289,231) (138,611) 864,518
-------------------------------------------------------------
Net increase (decrease) (20,610,926) (284,268) (137,056) 1,078,919
Net assets available for plan benefits at
beginning of year 20,610,926 284,268 137,056 --
--------------------------------------------------------------
Net assets available for plan benefits
at end of year $ -- $ -- $ -- $ 1,078,919
==============================================================
</TABLE>
See accompanying notes.
7
<PAGE>
First Financial Corporation
401 (k) Profit-Sharing Plan and Trust
Statement of Changes in Net Assets Available for Plan Benefits (continued)
Year ended December 31, 1993
<TABLE>
<CAPTION>
First First
M&I M&I Financial Financial
Bond Fund Max-Cap Fund CD Fund Stock Fund
-------------------------------------------------------
<S> <C> <C> <C> <C>
Additions:
Contributions from First Financial
Corporation $ 370,463 $ 305,826 $ 180,615 $ --
Contributions from Plan participants 76,657 72,686 34,579 320,677
Rollover of participants' funds from
other plans 4,828 1,881 -- 3,797
Investment income 97,776 30,481 24,943 515,850
------------------------------------------------------
549,724 410,874 240,137 840,324
Deductions:
Administrative expenses 50 100 78 1,349
Payments to Plan participants 34,177 46,888 15,602 297,691
------------------------------------------------------
Net additions 515,497 363,886 224,457 541,284
Net realized and unrealized appreciation
(depreciation) in aggregate fair value
of investments (58,147) 89,599 -- 20,431,978
Transfers 2,763,451 2,313,365 1,032,831 10,882,654
------------------------------------------------------
Net increase 3,220,801 2,766,850 1,257,288 31,855,916
Net assets available for plan benefits at
beginning of year -- -- -- --
------------------------------------------------------
Net assets available for plan benefits
at end of year $ 3,220,801 $ 2,766,850 $ 1,257,288 $31,855,916
======================================================
</TABLE>
[TABLE CONTINUED]
<TABLE>
<CAPTION>
First
Financial
First Advance
Financial Contribution
Loan Fund Fund Other Total
--------------------------------------------------------
<S> <C> <C> <C> <C>
Additions:
Contributions from First Financial
Corporation $ -- $ 2,619,469 $ -- $ 3,780,554
Contributions from Plan participants -- -- -- 874,978
Rollover of participants' funds from
other plans -- -- -- 17,318
Investment income 16,258 2,186 3,231 940,987
--------------------------------------------------------
16,258 2,621,655 3,231 5,613,837
Deductions:
Administrative expenses -- -- -- 1,627
Payments to Plan participants 12,479 -- -- 942,128
--------------------------------------------------------
Net additions 3,779 2,621,655 3,231 4,670,082
Net realized and unrealized appreciation
(depreciation) in aggregate fair value
of investments -- (34,375) 66,797 8,903,067
Transfers 479,787 -- 72,415 --
--------------------------------------------------------
Net increase 483,566 2,587,280 142,443 13,573,149
Net assets available for plan benefits at
beginning of year -- -- -- 29,819,914
--------------------------------------------------------
Net assets available for plan benefits
at end of year $ 483,566 $ 2,587,280 $ 142,443 $43,393,063
========================================================
</TABLE>
See accompanying notes.
8
<PAGE>
First Financial Corporation
401(k) Profit-Sharing Plan and Trust
Notes to Financial Statements
December 31, 1994
1. Description of the Plan
The following description of the First Financial Corporation 401(k)
Profit-Sharing Plan and Trust (the Plan) as of December 31, 1994, provides only
general information. Participants should refer to the Summary Plan Description
for a more complete description of the Plan's provisions.
The Plan is a contributory defined contribution retirement plan that covers any
employee of First Financial Corporation (the Employer) who is at least 21 years
of age and has completed a minimum of 1,000 hours of service during a
consecutive twelve-month period. It is subject to the provisions of the Employee
Retirement Income Security Act of 1974 (ERISA).
Employer contributions to the Plan are made on a discretionary basis (profit
sharing). Employer contributions are allocated based on annual compensation.
Participants vest in employer contributions on a sliding scale and are fully
vested after 7 years. In addition, participants may contribute a tax deferred
amount each year which is limited by Internal Revenue Code (IRC) Section 401(k).
Participants may also contribute on an after-tax basis, up to the lesser of 12%
of their compensation each year or the amount set by the IRC ($9,240 in 1994).
Participant tax deferred and after-tax contributions are 100% vested
immediately. The after-tax contributions are not matched by the Employer.
Employer contributions in 1994 and 1993 were also made through a matching
program whereby the Employer matched initial participant 401(k) contributions at
25% of the participant contribution up to a maximum matching contribution of
$100.
Benefits may be paid to a participant or beneficiary upon retirement, death,
disability or termination of employment. Benefits are payable in a lump-sum or
in equal installments over a period not to exceed the life expectancy of the
participant and designated beneficiary.
9
<PAGE>
2. Significant Accounting Policies
Basis of Accounting
The accompanying financial statements have been prepared on the accrual basis.
Investments
All investments are stated at fair value. Fair values of mutual funds and common
stocks are determined by reference to quoted redemption and market prices,
respectively. Fair values of pooled funds are determined by the Plan trustee.
Interest-bearing and noninterest-bearing deposits and notes receivable from
participants are carried at cost, which approximates fair value.
Administrative Expenses
Administrative expenses are generally paid by the Employer.
3. Investments
The Plan's investments are held by a bank-administered trust fund. During 1994
and 1993, the Plan's investments appreciated (depreciated) in fair value as
follows:
<TABLE>
<CAPTION>
Net Depreciation Fair Value
in Fair Value at End
During Year of Year
-------------------------------
<S> <C> <C>
Year ended December 31, 1994:
Fair value determined by Plan trustee -
Pooled funds $ (319,142) $ 6,243,044
Fair value determined by reference to quoted sources -
Common stocks (5,363,494) 27,418,044
-------------------------------
(5,682,636) 33,661,088
Assets carried at cost:
Interest-bearing deposits -- 8,438,667
Notes receivable from participants -- 731,138
-------------------------------
$ (5,682,636) $ 42,830,893
===============================
</TABLE>
10
<PAGE>
3. Investments (continued)
<TABLE>
<CAPTION>
Net Appreciation Fair Value
in Fair Value at End
During Year of Year
---------------------------
<S> <C> <C>
Year ended December 31, 1993:
Fair value determined by Plan trustee -
Pooled funds $ 292,178 $ 5,988,032
Fair value determined by reference to quoted sources -
Common stocks 8,610,889 32,036,197
---------------------------
8,903,067 38,024,229
Assets carried at cost:
Interest-bearing deposits -- 4,969,943
Notes receivable from participants -- 490,143
---------------------------
$ 8,903,067 $43,484,315
===========================
</TABLE>
The fair values of individual investments that represent 5% or more of the
Plan's net assets are as follows:
<TABLE>
<CAPTION>
December 31
1994 1993
---------------------------
<S> <C> <C>
First Financial Corporation common stock $27,297,050 $31,907,812
First Financial Corporation certificate of deposit; 4.30%, due
January 1995 2,682,090 -
Federated Index TR Max-Cap Fund 3,460,673 2,767,484
Marshall Intermediate Bond Fund 2,782,371 3,220,548
Marshall Money Market Fund 5,605,105 3,891,372
</TABLE>
4. Income Tax Status
The Internal Revenue Service has ruled that the Plan qualifies under Section
401(a) of the IRC and is, therefore, not subject to tax under present income tax
laws. Once qualified, the Plan is required to operate in conformity with the IRC
to maintain its qualification. The Plan Administrator is not aware of any course
of action or series of events that have occurred that might adversely affect the
Plan's qualified status.
11
<PAGE>
5. Transactions with Parties-in-Interest
The Plan owned 1,985,240 and 1,904,944 shares of First Financial Corporation
common stock, as adjusted for a 2-for-1 stock split in 1993, with a fair value
of $27,297,050 and $31,907,812 at December 31, 1994 and 1993, respectively.
Dividends, after being adjusted for stock splits, of $0.40 and $0.35 per share
were declared and paid on the Corporation's common stock in 1994 and 1993,
respectively. Fees paid by the Employer during the year for legal, accounting
and other services provided by parties-in-interest were based on customary and
reasonable rates.
During 1994 and 1993, the Plan received $62,933 and $50,461 in interest from the
Employer relating to its certificates of deposit, which totaled $2,833,562 and
$1,075,000 at December 31, 1994 and 1993, respectively.
6. Plan Termination
Although it has not expressed any intent to do so, the Employer has the right
under the Plan to discontinue its contributions at any time and to terminate the
Plan subject to the provisions of ERISA. In the event of Plan termination,
participants will become 100% vested in their accounts.
12
<PAGE>
First Financial Corporation
401(k) Profit-Sharing Plan and Trust
Assets Held for Investment
December 31, 1994
<TABLE>
<CAPTION>
Shares, Units or
Principal Amount Description Cost Current Value
- ----------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Common stocks:
665 Associated Banc Corporation $ 9,782 $ 23,608
1,985,240 First Financial Corporation 15,720,080 27,297,050
1,840 Firstar Corporation 21,084 49,450
600 Actava Group Inc. 14,273 5,475
845 AT&T 16,461 42,461
-------------------------------
15,781,680 27,418,044
Pooled funds:
296,799 Federated Index Tr Max-Cap Fund 3,470,995 3,460,673
307,784 Marshall Intermediate Bond Fund 3,085,349 2,782,371
-------------------------------
6,556,344 6,243,044
Interest-bearing deposits:
First Financial Corporation certificates of
deposit; due January 8, 1995 to April 1,
$2,833,562 1995; interest rates of 3.85% to 4.30% 2,833,562 2,833,562
$5,605,105 Marshall Money Market Fund 5,605,105 5,605,105
-------------------------------
8,438,667 8,438,667
Notes receivable from participants -
Various notes; due January 1, 1995 to January
30, 2004; interest rates of 6.30% to 10%
$ 731,138 731,138 731,138
-------------------------------
Total investments $ 31,507,829 $ 42,830,893
===============================
</TABLE>
13
<PAGE>
First Financial Corporation
401(k) Profit-Sharing Plan and Trust
Transactions or Series of Transactions in Excess of 5 Percent
of the Current Value of Plan Assets
Year ended December 31, 1994
<TABLE>
<CAPTION>
Type of Number of Purchase
Description Transaction Transactions Amount
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
First Financial Corporation certificates
of deposit III 6 $11,785,181
First Financial Corporation common stock III 57 3,306,053
Marshall Money Market Fund III 461 13,618,516
</TABLE>
As defined by ERISA, transactions in excess of 5 percent of the current value of
plan assets are categorized as:
(I) - a single transaction
(II) - a series of transactions (other than securities)
(III) - a series of transactions involving securities of the same issue
(IV) - a series of transactions involving securities with the same
person
There were no Type II or IV transactions during the plan year.
Type I transactions are included with Type III transactions.
<TABLE>
<CAPTION>
Fair Value
of Assets on
Number of Sale Cost Transaction
Description Transactions Amount of Assets Date Net Gain
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
First Financial Corporation certificates
of deposit 5 $ 9,103,090 $ 9,103,090 $ 9,103,090 $ -
First Financial Corporation common stock 15 1,382,201 630,732 1,382,201 751,469
Marshall Money Market Fund 367 11,904,782 11,904,782 11,904,782 -
</TABLE>
14
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
administrative committee of the Plan has duly caused this annual report to be
signed by the undersigned thereunto duly authorized.
FIRST FINANCIAL CORPORATION 401(k)
PROFIT SHARING PLAN AND TRUST
Date: June 28, 1995 By: /s/ John C. Seramur
----------------------------------
John C. Seramur
Member of the Administrative Committee
<PAGE>
EXHIBIT INDEX
Exhibit
Number Description
24 Consent of Independent Auditors
<PAGE>
Consent of Independent Auditors
We consent to the incorporation by reference in the Registration Statement (Form
S-8 No. 33- 36295) pertaining to the First Financial Corporation 401(k)
Profit-Sharing Plan and Trust and in the related prospectus of our report dated
May 26, 1995, with respect to the financial statements and schedules of the
First Financial Corporation 401(k) Profit-Sharing Plan and Trust included in
this Annual Report (Form 11-K) for the year ended December 31, 1994.
/s/ Ernst & Young LLP
Milwaukee, Wisconsin
June 27, 1995
